Wall Street set for higher open after payrolls data

NEW YORK – Wall Street was set for a higher open on Friday in the wake of data showing employment grew in November, defying expectations of a sharp pull back relating to Superstorm Sandy.

Nonfarm employment increased by 146,000 jobs last month, the Labor Department said on Friday, but a drop in the jobless rate to a near-four year low as people gave up the search for work suggested the labor market was still tepid.

"Overall, this is a pretty good number, even though we had a downward revision to the previous month," said Kathy Lien, managing director at BK Asset Management in New York.

"The real question, though, is whether this changes the Fed's attitude toward more stimulus. It doesn't remove the need for stimulus but might convince the Fed to opt for a smaller program."

Also to be released Friday is the Thomson Reuters/University of Michigan's consumer sentiment index, at 9:55 a.m. (1455 GMT). Economists surveyed by Reuters expect a preliminary December reading of 82.4, down from 82.7 a month earlier.

Amarin Corp shares fell 18.5 percent to $9.74 in premarket trading after the bio-pharmaceutical company raised $100 million in financing to help it launch its heart drug, Vascepa, but disappointed investors, who had hoped for a sale or partnership.

Netflix Inc may be in focus. Securities regulators may bring civil action against the firm and its chief executive for violating public disclosure rules with a Facebook post, Netflix said Thursday. The case raises questions about how public companies communicate on social media.